CARNIVAL CORP

Ticker: CCL CUSIP: 143658300 Class: UNIT 99/99/9999

Triple Frond Partners LLC's Holding History (CIK: 0001454502)

Note: Option positions (PUT/CALL) are excluded.

Q4 2014
Shares 750,000 Value ($000) $33,998 Avg Close $34.78 Range $28.08 - $39.51
Q3 2014
Shares 1,000,000 Value ($000) $40,170 Avg Close $32.01 Range $30.08 - $35.89
Q2 2014
Shares 1,000,000 Value ($000) $37,650 Avg Close $32.52 Range $29.96 - $34.25
Q1 2014
Shares 1,000,000 Value ($000) $37,860 Avg Close $33.09 Range $31.03 - $34.85
Q4 2013
Shares 1,000,000 Value ($000) $40,170 Avg Close $29.26 Range $25.97 - $33.67
Q3 2013
Shares 1,391,435 Value ($000) $45,416 Avg Close $29.88 Range $26.84 - $31.36
Q2 2013
Shares 1,391,435 Value ($000) $47,712 Avg Close $27.66 Range $26.30 - $29.10